Opdenergy posts record net income of 63 million in 2022 and EBITDA of 86 million

28 February 2023

  • Figures reflect a substantial increase over the previous year, thanks to energy sales and the transfer of 662MW to Bruc.
  • Total revenues reached 115.5 million euros, 165% more than the prior period, and EBITDA increased fivefold to 85.7 million euros.
  • The company has 1.8GW in operation and construction and increases its pipeline during 2022 by 3GW to 11.4GW.

Madrid, 28th February 2023.- Opdenergy, an independent renewable energy producer (IPP), has submitted its financial results for the year 2022 to the CNMV. The company ended the year with financial and operating figures that reflect its growth, consolidate the fulfilment of its objectives and reinforce the strength of its business plan, following its debut on the Spanish stock exchange on 22 July, being the only company to achieve its listing on the Continuous Market in 2022.

Opdenergy has closed the 2022 financial year with very positive financial results, achieving a record net profit of 63.2 million euros derived from a 165% increase in revenues, which reached 115.5 million euros. On the other hand, the renewable energy firm has achieved an EBITDA of 85.7 million euros, a five-fold increase on last year’s figure. This growth is the result of the consolidation of its business as IPP and the transfer of 662MW to Bruc.

The Net Debt/EBITDA ratio stands at 3.22x and the company holds a strong cash position of EUR 254 million. These figures reflect the strength of its business plan and support its objectives.

Opdenergy’s global portfolio of renewable assets, increased by 3GW in 2022, has reached 13.8GW and will support the company’s future growth. Of this 13.8GW, 62% is located in Europe, 25% in the USA and 13% in Latin America. In terms of technologies; 63% is photovoltaic; 17% is wind and 19% is storage.

Luis Cid, CEO of Opdenergy, says: “After our debut on the Continuous Market a few months ago, we are proud to present our first annual financial results as a listed company with solid figures that support our business model as a multi-technology and multi-country growing company. Opdenergy shows the solidity of its strategy in this current context in which renewable energies are more necessary than ever”.

Adjusted EBITDA (Development)


These figures highlight the remarkable operational progress made by the company during 2022, the year in which it successfully went public, raising 200 million euros.

Bruc Transaction

The annual results are supported by the transfer of different photovoltaic solar energy projects to Bruc Energy, following the agreement signed with this company in August 2021, which includes the sale of 1.1GW of projects in different parts of Spain that will be transferred as these assets obtain certain permits, the most relevant of which is the environmental permit.

As of the date of this press release, Opdenergy has obtained 100% of the environmental permits (EIS) for the assets included in the sale and transferred a total of 662 MW to Bruc, which represents 60% of the total operation.


Opdenergy has completed the construction of two projects in 2022: the Los Arcos and Manzanares solar photovoltaic plants, totalling 96MW. Both projects will avoid emissions of more than 29,600 tons of CO2 into the atmosphere per year. With these projects, the energy company now has 357MW in operation in Spain alone.

International business strength

In 2022, the company has consolidated its international projection strategy.

In the US, Opdenergy has started construction work on its Elizabeth project in Louisiana and its High Horizons project in West Virginia, with 160MW and 100MW respectively.

In Italy, the company has started construction of the 24MW La Francesca plant, which will be added to the 7MWs already in operation in the country.

Obtaining EISs

Another important milestone achieved by Opdenergy was the obtaining of Environmental Impact Statements (EIS) in Spain for a total of 2,320MW, of which 96MW corresponds to projects already built; 806MW to projects in the construction phase; 1,101MW to projects for the asset sale agreement with Bruc (thus obtaining all the environmental permits within the agreement for the sale of these assets); and 317MW to projects that the company will put under construction throughout 2023.



Opdenergy is a renewable energy producer that, since its foundation, has had as the core of its business plan the generation of renewable energy under a strategy of sustainability. Its line of activity and areas of action are set out in its Sustainability Master Plan 2025. Throughout this year, the company has reinforced its commitment to the fight against climate change, implementing a new GHG emissions management protocol to reduce its carbon footprint. It has also strengthened its ESG governance team, joining global initiatives that promote a sustainable economy such as the UN Global Compact and the Environmental Impact Assessment System (SEIA), which allows the environmental dimension to be introduced into the design and execution of projects and activities carried out in each country. In addition, it has reinforced its commitment to quality local employment and has implemented audits that ensure respect for human rights throughout its supply chain. This effort made during 2022 has enabled Opdenergy to obtain a high score in the ESG Risk Rating, a global index that measures the compliance of organizations in terms of environmental, social and corporate governance risks.



  • Launch of €100m green notes program on the MARF ▪ Start of commercial operation of 104MW project in Chile.
  • Opening of a second €50m green credit line with CaixaBank
  • Secured corporate debt facility of EUR 250 million with EIG and Generali Global Infrastructure
  • EUR 350 million green financing agreement with BBVA and the European Investment Bank
  • EUR 107 million green financing agreement with ING
  • IPO on 22 July
  • Louisiana Public Service Commission approval of Elizabeth Project
  • 662MW transferred in transaction with Bruc Energy
  • Obtained a total of 2,320MW from EISs in Spain
  • Adherence to MSCI World Small Cap Index


About Opdenergy

Opdenergy is an independent renewable energy producer, or IPP, operating in Europe, the United States and Latin America with more than 17 years of experience. The company develops, builds, finances, manages and operates high quality renewable energy projects in several countries. Opdenergy has a portfolio of 1.8 GW of assets in operation and under construction. In addition, Opdenergy has an additional portfolio of projects in different stages of development of 11.4 GW that support its growth strategy.

Opdenergy plays an important role in the decarbonization of energy in the different countries in which it operates. It is present and has projects in the pipeline in five European markets (Spain, Italy, United Kingdom, France and Poland), in the United States and in three Latin American markets (Chile, Mexico and Colombia).

Opdenergy is listed on the Spanish continuous market (BME:OPDE).


For further information

Irazusta Comunicación

Alberto Rodríguez: alberto.rodriguez@irazustacomunicacion.com

Nacho Miquel: nacho.miquel@irazustacomunicacion.com

Tlf. +34 91 563 41 79 / +34 691 31 21 05